Park Edge Advisors LLC Has $457,000 Stake in GE Vernova Inc. (NYSE:GEV)

Park Edge Advisors LLC reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 25.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,388 shares of the company’s stock after selling 471 shares during the period. Park Edge Advisors LLC’s holdings in GE Vernova were worth $457,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the third quarter worth $2,507,296,000. Legal & General Group Plc bought a new position in shares of GE Vernova during the 2nd quarter worth about $293,699,000. International Assets Investment Management LLC grew its stake in shares of GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after buying an additional 1,431,729 shares during the period. WCM Investment Management LLC increased its position in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after buying an additional 1,161,901 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in GE Vernova by 4,735.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 725,250 shares of the company’s stock worth $124,388,000 after buying an additional 710,250 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of a number of research reports. Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Down 4.2 %

GEV opened at $419.27 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company’s 50-day moving average price is $353.38 and its two-hundred day moving average price is $272.29. The stock has a market cap of $115.57 billion and a price-to-earnings ratio of 75.41.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.